Yahoo, Google and Apple executives boast salaries of mere pennies, but their actual total compensation is far more lavish.
The $1 salary—it sounds so noble, doesn't it?
In recent years, more and more executives at big tech companies have opted
for a salary of mere pennies, choosing instead to base their pay on the
performance of the company's stock—in other words, on the company itself.
Executives who opt for the $1 salary include Yahoo CEO
Jerry Yang, Google founders Larry Page and Sergey Brin and its CEO
Eric Schmidt. One of the most recognizable examples is Apple CEO
and co-founder Steve Jobs.
Former Yahoo CEO Terry Semel did it in
2007, but this was after raking in $56.8 million in 2006. He was
publicized as being the highest compensated executive in Silicon
Valley. Executives outside Silicon Valley
do it as well, at companies such as Capital One Financial and Pixar
Studios.
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